Tuesday, May 2, 2017

Mark Cuban Buys Stake in Twitter as Artificial Intelligence Play

Billionaire Mark Cuban told CNBC on Tuesday he started buying Twitter after the company got its act together on artificial intelligence. The stock is up more than 4.5% on his comments.

In an interview on CNBC's "Squawk Alley," he said he's been buying into companies that work in AI, deep learning and machine learning.

"I started buying Twitter recently because I think they finally got their act together with artificial intelligence," he said.

In March, Chief Executive Jack Dorsey said the impact of AI on society would be "positive," but unsure if the U.S. government is ready to deal with the impact.

"I don't know. I think so, I hope so. But if they (government) are not we are certainly going to help because it is a technology that is important, it is a trend that we need to see more of and it does help people," Dorsey told CNBC.